The global Agricultural Micronutrients market was valued at USD 7.10billion in 2016 and is projected to reach USD 14.32billionby 2025, growing at a CAGR of 8.1% from 2017 to 2025.
Micronutrients although required in very small quantities play an important role in soil health. The rising usage of chemical pesticides and fertilizers has deprived the soil of its essential micronutrients. The usage of these products is expected to play a major role in increasing productivity and also maintain the quality of soil.
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- Market Drivers
1.1 Micronutrient deficiency in soil
1.2 Increased focus on agricultural productivity
2. Market Restraints
2.1 Lack of awareness regarding micronutrients
2.2 Diagnosis issues and micronutrient toxicity
The global Agricultural Micronutrientsmarket is segmented on thetype, form, crop type, functionand region.
- By Type:
2. By Form:
3. By Crop Type:
3.1 Pulses and Oilseeds
3.2 Vegetables and Fruits
3.3 Cereals and Grains
4. By Function:
5. By Region:
5.1 North America U.S., Canada, Mexico
5.2 Europe Germany, UK, France, Rest of Europe
5.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
5.4 Latin America Brazil, Argentina, Rest of Latin America
5.5 Middle East & Africa
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The major players in the market are as follows:
- Akzo Nobel Nutrients
2. Yara International
4. Hellagrolip SA
7. BMS Micro Nutrients NV
9. Haifa Chemicals Ltd.
10. PPC ADOB
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology of Planet Market Reports
Research study on the Agricultural Micronutrientsmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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